CONMED (NASDAQ:CNMD) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other research firms also recently issued reports on CNMD. Leerink Swann raised their price target on CONMED from $76.00 to $81.00 and gave the stock a “market perform” rating in a research note on Thursday, August 30th. Zacks Investment Research upgraded CONMED from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Finally, Needham & Company LLC raised their price target on CONMED from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. CONMED has an average rating of “Hold” and a consensus target price of $73.50.

CONMED stock opened at $72.36 on Thursday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. CONMED has a 12 month low of $49.09 and a 12 month high of $83.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.97 and a quick ratio of 1.15.

CONMED (NASDAQ:CNMD) last posted its earnings results on Wednesday, August 1st. The medical technology company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The business had revenue of $212.80 million during the quarter, compared to analyst estimates of $207.12 million. CONMED had a return on equity of 9.51% and a net margin of 8.85%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. Equities research analysts forecast that CONMED will post 2.17 earnings per share for the current year.

In related news, EVP Peter K. Shagory sold 2,500 shares of CONMED stock in a transaction on Friday, August 31st. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the transaction, the executive vice president now directly owns 3,655 shares in the company, valued at $292,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stanley W. Peters III sold 1,500 shares of CONMED stock in a transaction on Friday, September 14th. The shares were sold at an average price of $80.43, for a total value of $120,645.00. Following the transaction, the vice president now owns 1,496 shares in the company, valued at $120,323.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,000 shares of company stock worth $639,565. Company insiders own 3.13% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its position in CONMED by 28.5% during the third quarter. Bank of Montreal Can now owns 63,622 shares of the medical technology company’s stock valued at $5,041,000 after purchasing an additional 14,103 shares in the last quarter. Wendell David Associates Inc. purchased a new position in CONMED during the third quarter valued at $208,000. Fruth Investment Management purchased a new position in CONMED during the third quarter valued at $208,000. United Services Automobile Association lifted its position in CONMED by 45.6% during the second quarter. United Services Automobile Association now owns 104,176 shares of the medical technology company’s stock valued at $7,626,000 after purchasing an additional 32,620 shares in the last quarter. Finally, Moody Aldrich Partners LLC purchased a new position in CONMED during the second quarter valued at $1,497,000. Institutional investors own 96.09% of the company’s stock.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

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